articles | 21 November 2015

Public resources transparency needed to restore confidence in the economy

Reliable and transparent procedures with regard to the management of public resources is a prerequisite for restoring citizens' and investors' confidence in the Cypriot economy, Minister of Finance Harris Georgiades said recently.

In statements after a meeting with the new Commissioner of Internal Audit Anna Christophorou, the Minister said that "we expect a lot from her and her service as part of an effort to introduce transparency and reliable procedures at all levels of public service”.

"By implementing a core policy of the government," he added, "we have set up audit units in all ministries which constitute the first level of an integrated multi-level audit system."

"The second level of audit is the one carried out by the Internal Audit Service", the Minister said, expressing his readiness for cooperation with the new Commissioner of Internal Audit "to find ways of further strengthening and better using this sensitive service”.

The audit system is made up of the third-level external audit conducted by the Audit Service, he said, adding that within a year more staff has been employed at the Service.

In her own statement, Christophorou expressed his readiness to cooperate with the Auditor General to achieve the common goal of reducing corruption.

She also assured that she would perform her duties in the best possible way.

Source: Famagusta Gazette

Cooperation Partners
  • Logo for Cyprus International Businesses Association
  • Logo for Love Cyprus Deputy Ministry of Tourism
  • Logo for CYFA Cyprus
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Invest Cyprus
  • Logo for Cyprus Investment Funds Association
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus Shipping Chamber